MERRY CHRISTMAS

HAPPY HOLIDAYS
AND
A HAPPY TRADING NEW YEAR

FXstreet Video: 1-2-3 Chart Pattern

Sunil Mangwani, CEO at FibForex12, presents the 1-2-3 pattern on FXstreet.com.

http://transcripts.fxstreet.com/2008/12/monthly-webinar-part-1-the-123-chart-pattern.html

Youtube Video on Citigroup Trade by David Waring

Wow, David Waring of InformedTrades.com uses Marketclub? Watch his video below on analysing Citigroup using Marketclub's trend analysis tool and then if interested click on the links below to get free trend analysis, blog or INO TV from INO.




Free INO Trend ANALYSIS Click Here


OR GET 4 FREE VIDEOS FROM INO TV.
INO TV Free video explanation Click Here

OR VISIT THE FREE Trading BLOG Click Here

Informedtrades.com has some free educational courses on trading from basics to advanced technical analysis. Good stuff. Click here

I am not affiliated with InformTrades.com nor are they a partner.

Happy Trading!

VIX Strategies

The CBOE (Chicago Board of Exchange) website has an online media center in which they host videos and what they call CBOE-TV.

See this video on the VIX:

http://www.cboe.com/TradTool/webcast.aspx?channel=1252&movieid=43219

Do Not Try To Make All Your Market Money At The End of December

Latest video from Market club. Enjoy! -----

Do Not Try To Make All Your Market Money At The End of December

In a few days we will be officially entering into the silly season. Most people think of this time of year as the holiday season, but for many investors it tends to be the silly season.

If you haven't made your money in the market already this year do not try to make in the last two weeks of December. This is when the markets are at their most volatile (hard to believe after what we have been through lately) and are trading at their thinnest volumes for the year.

We had a signal on Monday to cover our short DOW position. This turned out to be a nice trade as we had been short the DOW for quite some time. This exit the DOW position came exactly at the right time of the year as we choose to sit out the rest of the year.

http://www.ino.com/info/267/CD3393/&dp=0&l=0&campaignid=3

Don't misunderstand, covering a short position on the DOW does not change our view of the overall trend for the market. What it is saying is that the market has reached a neutrality between buyers and sellers and has stopped going down.

We would not be surprised to see the market's downtrend resume in 2009, as it appears that there are still a great many challenges ahead for the country and the economy.

If you have the time, please watch this short video I produced to show you the exact signals which told our members when to enter and exit the DOW.

http://www.ino.com/info/267/CD3393/&dp=0&l=0&campaignid=3

It will give you a better understanding of how the markets work and how you can use our "Trade Triangle" technology in the New Year to make profits.

Enjoy the video,

Adam Hewison
President, INO.com
Co-creator, MarketClub

Gambling with Citigroup Stock?

Citigroup (Symbol: C) closed at $7.71 on Dec 5th, 2008. Can this stock of this mega company go back up to whence it came or at least to $20 a share? I'm not good on the fundamentals and I'm mostly a day trader so I couldn't say if it will or will not. But one thing I can say that it seems to be a good price. Please I'm not giving a buy recommendation. Actually, I've jumped in at $5.89/share and holding for long term. Is this a gamble? Maybe it is but to me I have nothing to loose and much to gain.
It seems like the insiders are beginning to jump in again. Read this MarketWatch article:

http://www.marketwatch.com/news/story/citigroup-execs-buy-large-chunk/story.aspx?guid=%7B9A098627-13F2-4ABD-BABC-6CCAAD141B5F%7D

Happy trading!!

Day Trading Forex - "Flexible Forex" Video

Bill Poulos has created a video on what he calls "Flexible Forex". It's an educational video on his method of day trading the forex market based on your flexibility and life style. He says that this is a discovery that most traders are not doing. The videos are free but who knows where this is leading up to. So far good stuff and maybe someone can us it.

First Video:
http://www.nohypeforex.com/ForexStep1b

Second Video:
http://www.nohypeforex.com/ForexStep2

As of this post the 3rd video is not out but will be tomorrow.

How did a dead mathematician pinpoint the downturn in the market?

New video from Adam Hewison, of INO that is very educational.
- - - - - - - - - - - - - - - - - - - - -
In my new video, I will show you how a mathematician who has been dead
for several hundred years, pinpointed today's downturn in the market
(12/1/08). I think that you'll find this short video informative,
educational and above all practical.

http://www.ino.com/info/265/CD3393/&dp=0&l=0&campaignid=3

With the 2008 trading year rapidly coming to an end, we think it's
diligent to look forward at what and how you're going to approach the
markets in 2009.

As I've said before in our blog, there is going to be some fabulous
opportunities to make money in the New Year. However, it's going to take
discipline and a structured approach to take advantage of those
opportunities.

Enjoy th e video, and after the video check out MarketClub to see more
videos!

http://www.ino.com/info/265/CD3393/&dp=0&l=0&campaignid=3

Adam Hewison
President, INO.com
Co-creator MarketClub

2100 Atwell Road
Shady Side, MD 20764

Forex Video Blog

I came across this blog one day while searching for new ideas. It's called Forex Video Zone. A very simple blog of video compilations from around the internet focusing on the Forex market. And the great thing about it is that it is updated almost everyday. Great stuff.

Check it out at http://www.forexvideozone.com

New Video - How low can the Dow go?

Check out the new video from INO. Title of the video...How low can the Dow go?

http://www.ino.com/info/263/CD3393/&dp=0&l=0&campaignid=3

Make no mistake about it, the market action on Wednesday (November 19th) was extremely negative for all of the indices that we track. The close below 8,000 on the DOW can only be described as negative, indicating further weakness to the downside. I am looking for this index to trade down to around the 6600-6700 level.

Looking at the charts using our "Trade Triangle" technology, it is clear that the Dow has been under pressure since our first major sell signal at 11,290. I see no reason to alter this stand, as I believe the trend will continue to be on the downside. I expect to see further weakness in the weeks and months to come.

Here are the three choices you have as an investor:

1. You can go long a market.
2. You can go short a market.
3. You can move into cash.

I'm often amused when I see people buying "defensive stocks." Why not get out of the market entirely when it's going down. Doesn't that make more sense to everyone?
However, most brokers want you to stay in the market at all times fearing that they will miss a bottom. Truth is, most investors (including brokers) missed the top, so what makes anyone so sure that they'll catch the bottom?

The key in trading is not to get out at the top, or in at the bottom. Anyone who tells you to do that isn't playing smart in the markets, and most likely claims that they are holding the "holy grail" of trading.

An investor's goal should be to capture 70% of a move. The middle is the sweet spot, and if you make enough in the middle then who cares about the tops and bottoms. Forget picking up the 15% on the top and 15% on the bottom, it doesn't work consistently to use it as a trading strategy.

Check out my new video and see exactly where we got out of the indexes and were we see them headed right now...

Enjoy the video

http://www.ino.com/info/263/CD3393/&dp=0&l=0&campaignid=3

Adam Hewison
President, INO.com
Co-creator, MarketClub

What's ahead for Apple?

Another video from INO.

What's ahead for Apple?

I was looking over several charts this past weekend and I was shocked to recognize a chart formation playing out before my very eyes. I've seen this same formation a million times before, but I just didn't want to believe it could be happening to my favorite stock, Apple (NASDAQ_AAPL). Some would call this denial.

In the past I've written extensively about Apple products on this blog. If you have read any of these postings, you'd know how crazy I am about their products.

Several months ago I discovered a major technical formation that spelled trouble for Apple. I have to admit that I was saddened by this. This formation was also picked up by our "Trade Triangle" technology. Our algorithm triggered a sell signal and has continued to suggest a short position for Apple all this time.

Watch my new video on Apple.

http://www.ino.com/info/262/CD3393/&dp=0&l=0&campaignid=3

I was surprised that we've seen this market come down so easily. It seems like every time I visit an Apple store they are always busy and their products always seem to be selling well.

The question is, are we at the end of the iPod era?

Given the chart formation, the double top and pivot point, it seems we are headed lower. The Pivot Point measures down to the $40-$50 range and Apple at $90 still has a long way to go on the downside.

What caught my eye this weekend was a weekly continuation pattern to the downside and the fact that Apple closed at a new weekly low for the year. This is not a bullish sign by any stretch of the imagination.

For this coming week, I expect to see further downside pressure on Apple. I believe that we are going to be looking at the $50-60 dollar range as our target zone. Of course everything within will be tempered by our "Trade Triangle" technology. When our short-term "Trade Triangle" turns positive, we will close out short positions and take to the sidelines. In my opinion, it's going to take some time for this market to improve and turn around. The technicals are just too weak at the moment.

http://www.ino.com/info/262/CD3393/&dp=0&l=0&campaignid=3

Every success in trading,

Adam Hewison
President, INO.com
Co-creator, MarketClub

Learn the Basics of Elliot Wave

Elliot Wave International, whose president is Robert R. Prechter, Jr., is a forecasting company which has been publishing analysis on the markets since 1979. Their specialty of course is Elliot Waves. I only found out about them about two years ago when I was doing research on Elliot Waves. This is a must site for Elliot wave followers. I in no way benefit from recommending this site nor was paid for making them sound good. Well not yet(I haven't signed up for their affiliate program yet).I just think this is another great arsenal for the student.

On their website they have some free educational resources such as a free 10-lesson course on wave principles, pdf downloads, free newsletters into your inbox, and what I particularly like the best, instruction videos. The videos are usually short and might cover recent historical market movements but are good for learning from their analysis.

You have to sign up for the site. It's free. However, be warned that you will get a lot of emails and you might not be able to keep up. But everything in the emails are on their site.

Check them out.

http://www.elliottwave.com/club/

Happy wave counting!!

A plan to save the world -- part two, or is it three?

Another message and video from INO's president, Adam Hewison.

When Paulson came out today and stated that his earlier plan to save the western world was not working, he offered up a plan "C" (or is it "D") to relieve pressure on consumer credit, scrapping his earlier effort to buy the value mortgage assets.

No matter what happens or what the next plan is here, are the 3 reasons I believe stocks are headed lower.

* Number one: The trend in most all stocks is down. This trend is likely to persist and last longer than most people imagine.

* Number two: There is no plan. The government is floundering and does not have a plan that is going to work anytime soon.

* Number three: We have a lame-duck president, and nothing is going to happen of any consequence until President-elect Obama is sworn in.

New Video analysis of what could really happen:

http://www.ino.com/info/259/CD3393/&dp=0&l=0&campaignid=3

Okay, so let's look at the first problem. Most people trading the market today have had no experience in a prolonged bear market like the one we had in the '70s. That bear market was brutal as it did not let anyone out. Over the course of the early '70s, the bear market basically wore people out to the extent they eventually just threw in the towel. We believe the market is going to make another new low and take out the recent lows that were put in place in early October. Unlike a bull market that constantly needs positive news to drive it higher, a bear market just falls under its own weight.

The second problem we have is that there is no concrete plan in place to rescue the economy. In fact, the domestic and global economic issues are so great that they are overwhelming in scope. The Paulson plan, which is being changed and will continue to change, is a major concern and creates significant uncertainty in the marketplace. Only when we see the new regime take! off ice this coming January will we see any meaningful changes.

The third problem we have is a lame-duck president. This is a major problem for the markets as President-elect Obama can not make any sweeping changes until he is sworn into office. Yes, he may hit the ground running, but the reality is, it's not for over two months from now and a lot can happen to the market in two months. The key levels that everyone is going to be watching for are the recent lows we saw in early October. If these lows are taken out, and I expect they will be, it's going to push this market and everything else down to new lows. It will exacerbate the housing situation, the unemployment situation and most of all, the morale of the country.

Having lived through the bear market of the '70s, I know firsthand how difficult the journey we face is going to be. Now this may seem like a very pessimistic outlook and in some ways it is, however there are always opportunities to make mone! y i n the marketplace. These opportunities may not be in stocks! , it may be in forex or the commodity markets.

So buckle your seatbelt. I think we are in for a bumpy ride...check out the new video analysis:

http://www.ino.com/info/259/CD3393/&dp=0&l=0&campaignid=3

Adam Hewison,
President, INO.com
Co-Creator, MarketClub

Another view on drawing Support and Resistance

When it comes to trading strategies, price action and pattern trading are number one on my list. I love drawing trend lines and I believe they helped a great deal with my trading.

Here is a forum on forexfactory.com about "drawing correct resistance and support-lines" that I believe is interesting and helpful. Also, find on the first page a link to a Adobe format (pdf) ebook on TD Lines and a strategy to trade them.

http://www.forexfactory.com/showthread.php?t=69882

Happy Trading.

Review: rssHugger.com

This is off topic but I thought this would be helpful to anyone that owns a blog and would like a free way to gain more traffic and readers. I came across this site called rssHugger.com.

They have a top 100 list in which they rotate at the beginning of every month. This is to give every blog a chance to be recognized. Registration is free, easy and quick. Of course I've listed mytradersed.blogspot.com and in return I write a review for their site. Go to http://www.rsshugger.com

Free Trade Alert!! - This Stock is Ready to Fly

See this free video from INO.com's, Adam Hewison, on a stock that might be ready to move. Please observe how Adam analyze this stock and learn from it. His analysis is pretty good using standard technical analysis even before incorporating Marketclub's trading triangles. After watching the video you can sign up to receive an alert for a new post or video.

Here is a message from Adam Hewison on the stock:

"This stock may be getting ready to fly.

I was looking through our alerts recently and this stock just jumped out at me. I want to share my thoughts about what I expect will happened to this market in this short video. We've discussed this pattern before on several other videos and all have worked out very successfully.

http://www.ino.com/info/257/CD3393/&dp=0&l=0&campaignid=3

There's never a guarantee in trading and you should not look upon this as a slam dunk. However, all the odds favor this that this stock maybe on the runway and ready to take off in a positive direction.

Take a quick look at this short video and see what you think. I think you'll be impressed at the pattern and the possibilities that this market has on the upside.

http://www.ino.com/info/257/CD3393/&dp=0&l=0&campaignid=3

The video is available right now and there is no charge or registration.

Enjoy,

Adam Hewison
President, INO.com
Co-creator, MarketClub "

Free Forex Blaster Ebook

Avi Frister's "Forex Blaster Mechanical System" ebook is available for download free from this site http://www.forex-trading-machine.com/dtc.html. The site says this is for a limited time.

I was sceptical in posting the site but I decided to post it because maybe it's a strategy that gels with someone's thinking and can help them be more successful. Remember, not every strategy is good for you.

I personally don't use the strategy nor endorse it. However, Avi has a strategy called "Forex Cash Cow" which I've tried and has not failed me yet in demo or live account. I'm still testing it. You can find information about it at the link above.

Sam Seiden on Chart Patterns

Fxstreet.com has another video from Sam Seiden. This one is on "Conventional Chart Patterns and Forex".

What do we do with patterns? Well, we usually trade the breakout of a pattern and our target is usually the result of a measured move. But not all patterns reach that target. Not all potential patterns breakout. Some are fake and reverses. Check the video out and see how to apply supply and demand techniques to make low risk entries when trading those patterns breakouts.


http://transcripts.fxstreet.com/2008/10/conventional-ch.html

MACD Strategy

Here is another site with free trading education videos. This site shows an interesting MACD strategy that can work in any time frame and on most markets.

The Link below is no longer available:
http://www.advancedmentorshiptrading.com/dnn/Freebies/tabid/81/Default.aspx

Free Videos on MACD Divergence and Elliot Waves

I stumbled across this site with free videos on MACD. Although the site seems to be centered around the RAMP software the lessons are very good. Now I know why some traders use MACD when counting Elliot waves.

Here is the site - www.freestocktradingtrainingvideos.com


You can read about the Ramp software here - www.nebadawn.com

Know Thy Price

In trading or even investing, understanding price movement can be very beneficial. It can give you that added edge you need to be on the right side of the trade most of the time.

"Price is king", many traders proclaim and they are right. All indicators, and averages are derived from price. So these indicators and averages lag price. There are folks out there who do not use indicators at all. Price is the only instrument they use to make trading decisions.

If price only gels with your thinking process and character then go for it. Study about it as much. Some folks still need indicators but even if you use indicators some understanding of price movement or behaviour can help.

Studying price movement doesn't have to be a complicated task. It can be very simple. Study price patterns (reversal and continuation), support and resistance techniques, major candle stick patterns like long tails, dojis, inside and outside patterns, etc.. Elliot waves (OK, this one is on the advanced side), Fibonacci, and basic trend line analysis.

There is an interesting article on FXSTREET.com by Mike Baghdady, an Online Trading Academy instructor, on "The Study of Price Behavior". No one can predict price movement he said but you can have expectations of price movement. You can expect price to go up, go down, or go sideways. It's a good read.

"The Study of Price Behavior"


TradingMarkets had an article on "Combining Price and Volume to Predict Price Movement"

Here is a site that has a video, to download (swf format), on Swing Trading. In it the speaker talks about price cycles and understanding them.
http://forum.equis.com/forums/thread/13770.aspx

Happy Trading

Economic Calendar

For those who follow the FOREX market, and even the futures and equity markets, knowing when important economic news is to be announced is very important to making trading decisions before, during or after that news. So one needs to have a good resource that allows you to see a calendar of news events.

One such resource, which I've currently been using and think it's pretty good, is Forexfactory.com. Forexfactory is a forum geared towards Forex trading of course but on their home page is an economic calendar that all can use. What I like about this calendar is that it gives you the data as well. It gives you the forecast, and the previous numbers, and then actual numbers when the data comes out (see Fig 1) . Nothing new, other sites do the same but with Forexfactory's calendar you can get more detail with one click right on the page and learn if the numbers helps or hinders the currency. They also have a color code of if the news is of high, medium or low impact in which you can see if the data helps or hinders the currency.

                                              Fig 1

Forexfactory's calendar is easy and straight forward.

Forexfactory.com

The Trading Naked Site

Trading-Naked.com, although not impressive with it's website design, has been around for a quite some time and is filled with valuable trading information, articles, and strategies.

There are MACD setups, CCI setups including WoodiesCCI, Bollinger Band, and more. Get introduced to 1-2-3 patterns, reverse divergence, or see how to use Bollinger Band with RSI which are some of the articles on this site. Most articles are reprints from actual books by well known authors and traders. Good stuff.

http://www.trading-naked.com/Articles_and_Reprints.htm

Learn How To Invest

MSN's Money Central is a good place to learn the basics and some advanced topics on investing and trading. The Learning Center is filled with videos most from the Moneyshow.com.

Here is the link to the Learning Center http://articles.moneycentral.msn.com/Investing/LearnHowToInvest.aspx

Here is a link to an article on creating an investment portfolio starting with just $100.

http://articles.moneycentral.msn.com/Investing/StartInvesting/StartInvestingWithJust100.aspx

All the best on your investments.

Forex Trading Contest

It's not too late to get in on this. Traders Developement has a Forex contest going on right now. It ends August 30th. All you need to do is register and download the Avalon FX Pro Contest Demo Terminal. I'm in it.
Go to their link for more details:

http://www.tradersdevelopment.com/Contest/Default.aspx

All the best

Article on Charts and Indicators

http://view.exacttarget.com/?j=fe6815727660077e7214&m=ff0115707d6401&ls=fde210767d620d7e7316787c&l=fe9e15727765017e76&s=fdf7157176660d7e7d127577&ju=fe271574736d077f771d74

Trendlines For Additional Filtering

I love trendlines. I'm not an expert at them but they sure help in filtering out trades especially when used with indicators. Here are some trades I've done using trendlines. The chart below is a daily chart of the EUR/USD currency pair. Indicators are CCI and Bollinger Bands with standard settings. It's not necessary to use both since both reflects oversold/overbrought conditions. I also have a 55 exponential moving average on there. The thick yellow lines are my trendlines.



The EUR/USD has been in a trading range for some time and I really didn't need to use trendlines to trade it for I could had sold near resistance and brought near support. The trendlines added that additional safety for me.

For example, when the CCI indicator is in an overbrought territory ( above 100 ), I look for reversal opportunities. Usually, when CCI cross below 100 from an overbrought condition it's a selling opportunity. However, you can get false crosses. The trendlines help to avoid the false signals. I draw a trendling from the last pivot low, and extend it joining higher lows of the up trend move. If CCI cross 100 from overbrought and also break and close below the trendline, I can safely put in my sell entry.

Does this always work? Of course not. So in order to protect myself, my stop will be above the previous pivot high. My target will be the next level of support or I would take some profits when price reach the middle Bollinger band and then move my stop to break even.

Sam Seiden explained a strategy on FXStreet.com, using CCI or Stochastics with 20 or 50 moving average, to place high probability/low risk trades in the direction of the trend. I do incorporate his techniques into my strategies so credit goes to Sam Seiden where it is due.
http://transcripts.fxstreet.com/2008/05/the-importance.html
I've added trend lines to that strategy and it works pretty well.

Strategy is for educational purposes only. Please backtest any strategy before using live.

RSI Indicator

Here is another FXStreet.com video teaching you how to use the RSI indicator in the Forex market.

Back to Basics -The RSI indicator; one of my favorites

200 MA (Moving Average)

Some call it the brick wall. Others use it as a trend indicator. It's also noted as a place where institutions wait to load up or off load investments. I use the 200 MA on my charts as a trend gauge. If price is above the 200 MA, I only look to go long and if price is below, I only look to short. This all depends on other conditions as well. I also use it as a filter to help scan for stocks to potentially trade.

Financial dictionary definition: "A technical indicator compiled as a statistical series of a security's closing prices throughout 200 consecutive trading days. A 200-day moving average is designed to discover changes in a trend. Generally, a moving average is superimposed on a stock's line chart. If the stock price penetrates the moving average on the upside after a downward trend, the penetration is a signal to buy. But if the stock price penetrates the moving average on the downside following an upward trend, the penetration is a bearish sign. "200-day moving average

See this short YouTube video on the 200MA:

Preview Investment Books Free

Use Google books preview books before buying or even see full text of books depending on if it's out of print or publisher gave permission. Either way you can pickup some helpful information that can aid in your trading.

Here is a link to a book search on stocks:
Google book search on stocks

Link to Google Books main page; http://books.google.com

Free Online Class?

At http://www.futuresinvestingclass.com

Seems to be on options. I haven't checked it out so read the fine prints before signing up.

Websites with Free Trade Signals

I had in my IE favorites lists for some time these websites that give trading signals or some sort of rating/opinion on stocks and/or forex. Keep in mind these signals might be delayed and also that these sites might be looking to sell something. You can still check them out.

Barchart.com - Rates stocks from 0 to 100% as to if it is a buy or sell.
www2.barchart.com

Stockscores - This one also rate stocks but also gives a rating on the sentiment according to their proprietary system. www.stockscores.com


StockOptionSignals - This site helps you find the best options to trade according to the symbol you enter. www.stockoptionsignals.com


Americanbulls.com - This site gives buy and sell signals on stocks. They are delayed unless you pay for the service. Get weekly and daily signals. www.americanbulls.com

Trading Markets powerratings.net - Here you can give long term ratings on stocks, industries and mutual funds. On the tradingmarkets.com website you can get short term ratings on stocks but only a limited amount like 4 or 5. There's alot of good information on the siteseducation sections.

Trading Markets Forex Momentum Index - This index shows you which pairs are the strongest and which are the weakest. You can get this live intraday for free. Requires signup.

StockTrends.ca - This site gives you a report on the trend of the stock symbol you enter. www.stocktrends.ca

Navellier Stock grader - Free signup and get a report for your stock.
www.navellier.com

The Greedy Trader - www.thegreedytrader.com - This site give you stocks associated with certain patterns, and oscillator conditions. All delayed though buy good for edcuation.

FOREX
PipsandTips - http://www.pipsandtips.com - Gives a free daily signal on EURUSD.

Babypips.com - These guys give their trade signals according to their trading method. This one is more for educational purposes.
www.babypips.com

If anyone know of any interesting sites that gives free signals or trading ideas please list them in the comments area. Share the knowledge. Thanks.

New Sam Seiden Video from FXStreet

Revised title: is "Capture reversal points with the use of indicators and oscillators"

The link is http://transcripts.fxstreet.com/2008/05/the-importance.html

And if you've noticed, I like Sam Seiden's keep it simple, low risk/high reward methods of trading.

One of the things he have mentioned in the presentation is to follow your rules. I believe that this is what make or break traders. You can have a good strategy, system, money management, business plan, trading plan, etc but if you don't stick to your rules well you end up losing big. Stick to your rules and your big wins, and small loses should equal winner.

Chart Patterns

Cup and handle, ascending Triangle, Symetrical Triangles, Head and Shoulders, double tops and bottoms, triple tops and bottoms, Flags, penants, parabolic, Candlestick patterns, and the list goes on and on.

It's helpful to know a pattern exist and it only exist when it is completed. From it you kinda get a sentiment of what the market is doing at that point. Most times you are in some sort of consolidation when you get a pattern forming. If you trade patterns, put in your stop loss. Patterns do fail at times.

Here are 3 sites out of millions that I think help explain some of these patterns and maybe how to trade them:

Chartpatterns.com

Recognia.com

Thepatternsite.com

Candlesticks
www.tradingeducation.com

Candlestiker - this site lists most of the candlestick patterns.

Understand the price action of candles:

checkout this article:
How to interpret candlestick patterns http://www.swing-trade-stocks.com/reading-candlestick-charts.html

Moneyshow.com videos on candlesticks. You may have to sign up (free)

The Art of Candlestick Charting

Japenese Candlesticks - An indepth ..

Advanced Income Producing Tips: Learn How to Read Candle Charts Properly and The Psychology Behind Them

Charting for Forex

One thing about Forex is that you can get real-time free streaming charts online for free:

DailyFx Charts - This is one of the most popular charting sites for Forex. It offers 5 different types of basic charts in addition of premium charting.

FxStreet Charts - Four to choose from

Charting Sites for Stocks

Every trader and investor need to use charts. Well, these days they do if they want to ahead of the game. With charts, you can see support and resistance levels, trends, and price action.

There are thousands of free online charting sites out there. It could be millions. I don't know but below I'm listing some that I've used for both stocks and forex. Some which are very popular.

At the top of the list is:
StockCharts.com - Very popular site. Free areas include charting with indicators, charting school, news letter, stock scans and more. There is a public chart list that user posts there charts and investment ideas.

Bigcharts.com - Another popular one. Bigcharts has basic and java based charts. If you don't have charting software you can use Bigcharts Interactive chart to draw your support and resistance lines.

Yahoo Finance (finance.yahoo.com) - Many features on this site in addition to charting. Even free streaming quotes. -->

Prophet.Net - Another popular site that also has free interactive java charts.

StockFetcher.com - Offers a stock scanning service based on formulas but there charting is free and interactive. It's perfect for those without software on the computer.

StockScores.com - This site gives a little more than charts. It rates
stocks according to their proprietary system.

Trading Markets - Has what they call powerratings chart with their proprietary stock rating.

Other places:
MSN Money Central
Zacks
Nasdaq.com

I probably have much more but thats all for now.
Happy Charting.

Some Investment Glossaries I Use

1. Investorwords.com

2. Investopedia Dictionary

How To Draw Trendlines Video

There are lots of great videos explaining anything from the basics to complicated strategies on youtube. Here is one on drawing trend lines.

Definition: Time frame is the period in which something occurs or is expected to occur. See thefreedictionary.com definition
The most popular time frames in trading are Monthly, Weekly, Daily, Hourly, 15 minutes and 5 minutes.

VIDEO: Option Addict Analysis: Drawing Trendlines

Ranging and Channeling

If a market is not trending then it is probably in a congestion phase where price is ranging or channeling. Price could be consolidating in a congestion phase. Consolidation is a period in which price doesn't change much. Think of it this way, congestion is wide and consolidation is very narrow.

Below are some links about Ranging and Channeling:

1. Investopedia's definition

2. Channeling

3. Article on identifing range

4. Using the right tools when you trade

Videos on Trend Trading FX

Trend Trading Part I by Don Wilcox

http://transcripts.fxstreet.com/2008/04/trend-trading-.html

Trend Trading Part II by Don Wilcox

http://transcripts.fxstreet.com/2008/04/trend-trading-1.html

Forex Education for Beginners

This site one of the number one sites for beginners to learn the basics of Forex trading online. It's free. No signing up. And some good commentary.

Babypips.com

Practice Investing in Stocks for Free

Free Online Stock Simulators:


Investopedia Simulator - Trade stocks and options with virtual money.

StocksQuest - Trade stocks with virtual money.

The next site is a simulator that allows investing on the world markets.

Investment Game '08

"Trend is your friend"

A trend is the general direction price follows whether it be up or down. Usually there is an incline when you have an uptrend and a decline whe you have a downtown. Sounds trivial but most times traders don't get it. We usually hear "the trend is your friend", meaning if you trade in the direction of the trend it can make you profitable.

click for Investopedia's definition

Traders should learn how to identify a trend. Traders should know when a trend do not exist and that there is ranging or channeling (price moving sideways). The easiest way to identify trends is to draw trend lines. You need at least 3 price points to draw a trend line (2 to draw the line and the 3rd to confirm the trend line).

I've practiced drawing trend lines with the book "Stikky Stock Charts" by Laurence Holt. A pretty cheap book and good in my opinion. But you can print charts from yahoo finance or stockcharts.com and practice. Most charting software allows you to draw lines right on the chart. Remember you need 3 points.

Draw your trend lines and observe if price follow the trend. You will be amazed.

See Stockchart.com on Trend lines

.....
Stockcharts.com is a great place to learn about technical analysis.

Keep up with the News

There are many news resources online. MSNBC, Bloomberg, etc. but I like to watch Nightly Business Report which airs on PBS in NYC everyday at 6:30 PM. They give a recap of the market, report on anything they deem was the big news for the day, have commentaries by market professionals, and some picks by others. You can watch the same program online at http://www.pbs.org/nbr/. In addition, they offer some other tools to help with investing and articles that you can learn from.

Nightly Business Report

Free Investing Education Online Videos

There are a few places that offer free courses online and webinars so that you can learn to invest and trade the markets.

You will have to sign up to most of them to gain access but it's free.

Moneyshow.com - Aside from their tradeshow webinars, they offer free video courses.

FXSTREET.com - For those interested in trading currencies. Free to sign up and watch free webcasts or their archives.

TDAmeritrade Webcast Archive - Some good stuff on technical analysis, fundamental analysis and investing.

Option Industry Council - For those interested in learning about options, this is the free site to do it.

ForexTV.com - You can learn a few things about FOREX from here.

Nightly Business Report - A great place to learn some fundamentals and keep on top of the news. Has daily online video of the PBS daily broadcast.

Fundamental vs Technical Analysis - For Beginners

Fundamental analysis is the study of a company, market or economy to evaluate it's history, current standing, and value. This may include studing financial reports, earnings, sales, assets, etc.. Most investors will say that they are fundamental analysts.

Technical analysis is the study of market data from charts to evaluate a markets standing and potential direction. This may include studing trends, patterns, indicators, price, volume, etc.. Most traders will tell you they are technical analysts.

Visit this link to get a more concise definition of the two:

What is the difference between fundamental and technical analysis?

As a trader, I major on technical analysis being that most trades are short term (1 day, 1 week, 1 month). Investors are usually in for the long haul (years). But don't get me wrong, for a professional trader need to consider the fundamentals of whatever market he/she trades, i.e. not to trade around an earnings report or knowing which stocks were upgraded or downgraded. Fundamentals can affect results.

A successful investor still need to consider some technical analysis. For instance, he/she would want to buy a company of good value or undervalued at a strong support level.

So to conclude, both are important whether you are going to be a trader or investor or both.


Technical analysis basics

Fundamental analysis basics

Also see
Investing Basics on Nasdaq.com

Free Trading Videos

Here is another site that offers free videos daily by analyst covering stocks and options.

http://www.freetradingvideos.com

Free Software List

There are some pretty good free software out there that even the professionals can use. Here are my favorites:

Stocks, Forex and Futures
Ninja Trader - Good software, alot of support, built in simulator.
Quotetracker - very popular free software.
Quotetrader by eSignal - I'm trying this one out now.
Hubb Investor

Forex
Metatrader - free with a demo or paid Forex account. This program is awesome.
VT Trader - free with a demo or paid Forex account.

Stocks
PatternZ - A software that recognizes classic patterns.
Strategy Desk - Free with TDAmeritrade Account. Very good back testing feature.
FCharts SE - Good basic software but Pro has more features.
SoftInvestor Free edition - I have not tried this one yet
EasyTrader & Net Trader - Day trading software.

Money Management
Tony Oz Stock Market Calculator - Calculate profit potential. Other free stuff here as well.

Market Update Video

Support and Resistance (Supply and Demand)

Sam Seiden's presentation on FXSTREET.com

'Multiple Low Risk Forex Entries With Support and Resistance'


Also, on FXSTREET.COM you can find many presentations by well known professionals in the transcript archive to watch without signing up. FXSTREET.com is free to sign up for the non premium live webcasts.

SUPPY AND DEMAND

Basic economics says that when there is too much supply prices goes down, and when there is too much demand price goes up. This is true in all aspects of markets and business. Understanding supply and demand concepts is important when you are in the investing and trading business.

When there is supply we usually hear that we have more sellers, and when there is demand we usually hear that we have more buyers. At one given point we can either have the sellers in control, the buyers in control or none in control of the market (equilibrium). Wall street calls the controlling sellers bears and the controlling buyers bulls. So we hear the terms bear market or bull market.

We also get out of supply and demand the concept of support and resistance. Support is where the buyers believe price is cheap and are willing to buy. Resistance is where the sellers believe the price is expensive and is willing to sell.

I've over simplified the concept of supply and demand but you can read more professional explanations on the topic. Just go to the links below.


Economics: Supply and Demand
http://www.investopedia.com/university/economics/economics3.asp


Forbes Article on Supply and Demand
http://www.forbes.com/2006/08/23/forex-trading-education-in_swh_0823investools_inl.html


Supply and Demand
http://stocks.about.com/od/understandingstocks/a/112807supply.htm


Sam Seiden, An Online Trading Academy Instructor with 10 years of experience trading, has an interesting yet simple trading strategy involving recognizing supply and demand. Check out his articles at the link below. Also, check out the video section for links to his archived video presentation on FXSTREET.com.

http://www.samseiden.com/resources.htm

How to Establish Realistic Investment Goals - Video

Examples of Technical Analysis - Video

Watch the latest videos on YouTube.com

Quotetracker

Quotetracker is a popular free stock quote and charting program. It intergrates various datafeeds from some of the most well know brokers and you can see real-time streaming quotes once your broker or datafeed provides it. You can even get Level II on it.

So far, I have not seen any scanning capability but still it's a nice free program to have.
The free program displays advertisement in a banner on the software itself. But if you want no advertisement then the registration fee is $60 a year. If you have a TDAmeritrade account with $2500 plus in it, then it's free.

As I understand, TDAmeritrade is now the owner of Quotetracker.

I've also learnt that Traders Coach Applied Reality Trading program runs on Quotracker.

Go to Quotetracker.com to learn more about it and download software free.

Amibroker

Amibroker is another software I've messed around with. Although not free, you can download the demo which has no expiration date. The demo is limited as far as saving updated quote information, scanning, and configuring data feeds. There might be other limitations but other than that, you can play around with the formulas, create your own and test out the software. It's pretty cheap compared to others and there is no subscription fee.

Amibroker is for Equities and currencies. Read more about it on their site, Click Here.

Beginners Start Here - The Basics

There is a wealth of educational information on the internet to learn about the markets, investing and trading. This blog is just one of the many with lists of such resources. A good place to start to learn is

Investopedia.com Tutorial - This link will take you straight a tutorial where you can learn the basics about the stock market, investing, economy and more.


Forex Tutorial - Investopia also have a Forex tutorial for those who are interested.

Clichés of the Market World

Have you ever heard any of these phrases or sayings? Some has merit to it and some probably not worth paying attention to. I wrote a short opinion about each. Hopefully, I presented the sayings correctly.

'Fear and Greed'
- Well, this is what they say drives the market. You have those that are greedy and drive the market up. And you have those that are fearful and drives the market down.

"Buy on bad news, sell on good news"
- Maybe this work sometimes but most times it don't. it's not recommended.

'Sell the news, buy the rumor'
- Not recommended either. But the premise is that you sell to those jumping on the news that was already accounted for in the market.

'Don't sell or buy around news time.'
- I agree with this if you want to minimize your risk.

'Buy low, sell high.'
- It's hard to pick the bottom or top but this is what it's all about isn't it?

'Buy high, sell higher.'
- Many market educators and professionals would teach this. It works only when it works. Hey, another cliché. But the idea is that something in motion stays in motion until some force stops it. A market making new highs tend to go higher.

'Buy strength and sell weakness.'
- I agree. You want to buy into a strong market. One that the herd is in to. But you have to ask yourself, what is a strong or weak market.


'Buy near support and sell near resistance.'
- A classic technical analysis saying and basic technique that when coupled with the next cliché, among other things, can help one be successful in trading.

'The trend is your friend.'
- If the trend is up, look to go long. If the trend is down, look to short. Again, you're going with the herd. The hard part is defining the trend.

'Indicators are lagging.'
- Indicators are based on price. They only tell you what already has happened. However, used the right way indicators can help with trading.

'Price is king.'
- Understand how to read price and you sometimes can determine with high probability what price is doing and could do.

'Price and volume are the leading indicators.'
- In a sense they are because they tell you what the market is doing at the moment. But still, no human nor machine can predict the future.

'Win big, loss small' or 'Cut your losses and let your winners run.'
- Good money management is one of the major keys to becoming a successful investor/trader. In this game, there will be losses and you must expect them. But keep them small.

'Don't try to catch a falling knife.'
- Markets tend to fall faster than they rise. The reason is fear.

'Stock investing is gambling.'
- This one is up for debate. But certain aspects of how you approach investing and trading can be considered gambling. For instance, if you do no research at all, or have no idea of entry or exit strategy, well you can consider yourself gambling. You're playing by chance.

'Don't have hopium'
- that is to say don't hope the market will do this or that. Still, though we do hope and I've heard even pro's so the word hope. But we should have a plan, rules and stick to them, then we won't have to hope so much.

Which brings me to..

"..The wind blows wherever it pleases. You hear its sound, but you cannot tell where it comes from or where it is going..." John 3:8 (NIV)

Same is with the market and price. We don't know which way price will go because we cannot and should not try to predict the future. What professionals do is go with the flow. Follow the herd (institutions). You are like a sail boat that goes in the direction of the wind. It waits for the right setup and move when it's time to move. And stop when time to stop.


There are more and I will add them as they come.
--Nigel

FCharts SE Charting Software

FCharts SE is a free stock charting software by Spacejock. You can find it at www.spacejock.com/FreechartsSE.html.
It has all the basic functions of most stock charting software but with some limitations. The Pro version, for a price, has more features and scanning capability. You can use the built in downloader to update quotes from sources like Yahoo. This is one of the first software I had tried out. I actually purchased the PRO version for it's scanning capability.

Quick Links

The "Quick Links" on the left side bar will comprise of links to websites that offer free information to the investment community. I usually look at these websites every morning to get an idea of what the markets are saying.

Nasdaq PMI - Offered by Nasdaq.com, Is a pre-market indicator of how the nasdaq stocks are trading in the pre-market(Time before the stock market opens usually between 8am - 9:30am EST). Usually, I get a sense from the Nasdaq PMI whether we would have an up or down opening at 9:30am in the Nasdaq.

Briefing.com - This site has a wealth of information. In the morning, I mainly go to Market snapshot, Stock Market Update, to see how the S&P and Nasdaq futures are doing. It's delayed of course. I can also get a sense of if the market will open higher or lower by if the futures were higher or lower.

Smartmoney.com - Also has a wealth of information. Not all is free but one of the free features I particularly like is the Map of the Market. This shows you a map of stocks, within their respective industries, with red and green colors to indicate strength and weakness. This might be useful to those who are looking for stocks in strong or weak sectors. It also has a free sector map.

Yahoo Economic Calendar; Forex Economic Calendar; FXSTREET Economic Calendar - Well, these are self explanatory. News almost always affect the markets. I check these so to know when news is coming out in these markets and I decide whether to trade or not during those times. Yahoo also has company events if you need to know if specific news or earnings reports will be coming out for a specific stock.

MORE TO COME

Nigel

Disclaimer

The information presented on this blog are for educational purposes only and should not be regarded as investment advice. The information can help to guide you into further education and workings of trading the markets. MyTradersEd does not recommend trades nor provide trading signals. Examples from this site and the resources listed, although might be based on real world outcomes, are hypothetical and are for educational purposes.

We do not represent any service or information presented on this blog. We do not certify that the services or information provided on this blog will meet your requirements or is suitable for your individual needs.

The past performance of any trade whether actual or hypothetical is not an indication of future results.

MyTraders Ed is neither a registered Investment Advisor nor a Broker/Dealer. You should seek professional advice from a licensed financial advisor before taking any action or making any financial decisions. Trading and investing in the markets involves risk and the individual should understand these risks before committing any money to the markets. And you must understand that you can lose all that you've invested. Your decision to trade and/or what instruments you use are solely your decision.

Purpose

The purpose of this blog is to share my lists of free online trading and market educational resources. So, to help others to improve their understanding of the trading and investment arena. This site is for the novice trader as well as the professional trader. You can never have too much education. -- Nigel